PriceSmart Announces May Net Merchandise Sales and Earnings Release and Conference Call Details for the Third Quarter of Fiscal 2021
SAN DIEGO , June 7, 2021 |PRNewswire| -- PriceSmart, Inc. (NASDAQ: PSMT ) today announced that net merchandise sales in May increased 16.3% to $286.4 million from $246.3 million in May a year earlier. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by 1.6%, or $3.8 million , versus the same one-month period in the prior year. There were 47 warehouse clubs in operation at the end of May 2021 and 45 warehouse clubs in operation at the end of May 2020 . For the five weeks ended May 30, 2021 , comparable net merchandise sales for the 45 warehouse clubs open at least 13 ½ full months increased 12.0% when compared to the same period last year. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by 1.6%, or $4.4 million , versus the same period in the prior year. Sherry S. Bahrambeygui , Chief Executive Officer, commented: "Our Membership base has increased by 5.2% and our trailing 12-month renewal rate has increased by 8.9% from the lows in August 2020 .
PriceSmart Announces May Net Merchandise Sales and Earnings Release and Conference Call Details for the Third Quarter of Fiscal 2021
SAN DIEGO , June 7, 2021 |PRNewswire| -- PriceSmart, Inc. (NASDAQ: PSMT ) today announced that net merchandise sales in May increased 16.3% to $286.4 million from $246.3 million in May a year earlier. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by 1.6%, or $3.8 million , versus the same one-month period in the prior year. There were 47 warehouse clubs in operation at the end of May 2021 and 45 warehouse clubs in operation at the end of May 2020 . For the five weeks ended May 30, 2021 , comparable net merchandise sales for the 45 warehouse clubs open at least 13 ½ full months increased 12.0% when compared to the same period last year. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by 1.6%, or $4.4 million , versus the same period in the prior year. Sherry S. Bahrambeygui , Chief Executive Officer, commented: "Our Membership base has increased by 5.2% and our trailing 12-month renewal rate has increased by 8.9% from the lows in August 2020 .